Federal Minister for Petroleum Ali Pervaiz Malik has hinted at a possible reduction in petroleum prices, saying that the public will soon receive “good news” regarding fuel prices.
Speaking to Geo News, the minister acknowledged that Pakistanis had faced significant difficulties due to the recent Iran-US conflict, which pushed up international oil prices and led to higher petroleum prices domestically.
Minister Says Public Faced Pressure from Fuel Price Hike
Ali Pervaiz Malik said the increase in petroleum prices had affected household budgets and placed an additional financial burden on consumers.
He noted that the impact of tensions between the United States and Iran had been felt across global energy markets, resulting in higher costs for oil-importing countries, including Pakistan.
“The public suffered greatly because of the Iran-US war, and the rise in petroleum prices affected people’s budgets,” the minister said.
Government Committed to Providing Relief
The petroleum minister said the government remained committed to providing maximum relief to consumers.
He added that Prime Minister Shehbaz Sharif had directed the authorities to reduce petroleum prices to the greatest extent possible whenever international market conditions allowed.
“We have made a commitment, and the prime minister has also instructed that prices should be reduced as much as possible,” Ali Pervaiz Malik said.
Expectations Grow Ahead of Next Price Review
The minister’s remarks have raised expectations of a reduction in fuel prices in the upcoming fortnightly review.
Petroleum prices in Pakistan are revised every two weeks, taking into account changes in international crude oil prices and exchange rate movements.
A decline in global oil prices in recent days has increased hopes that consumers may receive relief after recent increases.